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Joanna Sheinberg Sells 3.76 Acre Development Site In Weston For $4M

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SOLD
$4,000,000

Florida

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Development Site
Sold 12/09/2022
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SOLD

Joanna Sheinberg Sells 3.76 Acre Development Site In Weston For $4M

3310 Lake Ridge Lane

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Development Site
Sold 12/09/2022
the dealplayerscompscontact
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Summary

FLORIDA
Asset Type:Development Site
Transaction Type:Sale

A True Trophy Property! Spectacular 3.76 acre residential lot in Windmill Ranch Estates, one of the most exclusive luxury enclaves in West Broward, and all of Southeast Florida. This over-sized vacant lot represented a VERY RARE opportunity to own such an expansive tract of land within the most coveted gated community in Weston. Congratulations to both Buyer and Seller!

Summary of transaction details

Miguel Serrano, a leading agent with Douglas Elliman Florida, represented both the buyer and seller in this transaction. With more than 25 years of experience in development management, owner/investor representation, and general contracting, Serrano is a proven and invaluable resource to his high-net-worth clientele. Congratulations to all parties involved in this successful sale!

Players

Miguel Serrano
Douglas Elliman
Miguel Serrano
3 deals$19.2M volume
BROKER

Details

SOLD
IMAGE: Miguel Serrano DATE: 12/09/2022 ADDRESS: 3310 Lake Ridge Lane MARKET: Weston ASSET TYPE: Development Site SELLER: Joanna Sheinberg BROKER: Miguel Serrano (@Top_Florida_Properties) - Douglas Elliman SALE PRICE: $4,000,000 NOTE FROM BROKER: A True Trophy Property! Spectacular 3.76 acre residential lot in Windmill Ranch Estates, one of the most exclusive luxury enclaves in West Broward, and all of Southeast Florida. This over-sized vacant lot represented a VERY RARE opportunity to own such an expansive tract of land within the most coveted gated community in Weston. Congratulations to both Buyer and Seller! Miguel Serrano is a leading agent with Douglas Elliman Florida, recurrently recognized among the company's top 8% agents nationwide. He serves the Miami, Fort Lauderdale and Palm Beach, Florida markets, specializing in high-end luxury real estate, representing both buyers and sellers. With more than 25 years of experience in development management, owner/investor representation and general contracting, he is a proven and invaluable resource to his high-net worth clientele, especially on complex spec projects, new construction estates, and commercial properties.

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Deal Type
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)

$213,333.32

Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$14,211.17
Cash-on-Cash Return-1.27%
Monthly Debt Service$18,962.04
Annual Debt Service$227,544.49